What Price for ‘Candle in the Wind’?

Everyone agrees that Elton John’s “Candle in the Wind 1997” is the fastest-selling single of the modern pop era, but not all retailers agree what to charge for it.

SoundScan reported Wednesday that the charity recording sold more than 3.4 million copies during its first week in stores, about 600,000 more than an optimistic A&M; Records had estimated earlier this week. The figure is also nearly six times the previous one-week high of 632,000 set by Whitney Houston’s “I Will Always Love You” in 1992.

But even as John celebrated the staggering achievement on Wednesday, an A&M; executive lamented that some retailers are charging as much as $3.99 for the single, 50 cents more than the suggested list price and $1 more than some rivals are charging.

Although Tower Records and Best Buy are charging $2.99 for “Candle,” about $1 more than the wholesale price, Blockbuster and Musicland are asking as much as $3.99. (All artist and composer royalties and record company profits are being donated to the Diana, Princess of Wales, Memorial Fund, but retailers are under no obligation to donate their profits.)

“It’s sad,” the A&M; executive, speaking anonymously, said of the retailers charging the higher price. “Life offers few opportunities to be good and kind. Here’s one, and they missed it.”

But spokesmen for Musicland and Blockbuster defended the decision to charge the higher price, saying that’s what they usually charge for singles. And the Musicland spokesman said the company would donate an undetermined portion of its “Candle” profits to undetermined charities.

Steve Shannon, singles buyer for Blockbuster, said the company considered selling “Candle” for its list price, “but because of the unusual circumstances--the way the record was sold to us--the decision was made to stick to our standard everyday pricing.”

Unlike most singles, “Candle” was not offered at a discount to retailers and is not returnable, meaning that if the records don’t sell, retailers will be stuck with them.

Meanwhile, Boyz II Men’s “Evolution” entered the album chart at No. 1, selling more than 211,000 copies. John’s “The Big Picture,” which does not include “Candle in the Wind,” entered at No. 9 after selling about 101,000 copies.

What’s New

Bob Dylan’s “Time Out of Mind” (Columbia), the Rolling Stones’ “Bridges to Babylon” (Virgin).